ASIA-PAC EQUITY WRAP: Asia traded mostly lower amid a deluge of earnings releases and after US regional bank fears resurfaced

Analysis details (05:54)

Asia-Pac stocks were mostly lower amid a busy slate of earnings releases and after the subdued performance stateside where regional bank fears resurfaced and initial jobless claims disappointed. ASX 200 (Flat) was lacklustre with the index constrained by weakness in the energy and mining-related sectors after the recent pressure in underlying commodity prices. Nikkei 225 (+0.9%) outperformed and rose to its highest since November 2021 with price action largely driven by earnings results including various blue-chip stocks. Hang Seng (-0.1%) and Shanghai Comp. (-0.4%) were indecisive as talks between US National Security Adviser Sullivan and China's top diplomat Wang Yi provided some encouragement towards a potential Biden-Xi call, although participants also digested weaker-than-expected Chinese loans and financing data.

12 May 2023 - 05:52- Fixed IncomeEconomic Commentary- Source: Newsquawk